Aspetuck Financial Management LLC Acquires New Position in Marathon Petroleum Corporation (NYSE:MPC)

Aspetuck Financial Management LLC acquired a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 10,995 shares of the oil and gas company's stock, valued at approximately $1,602,000. Marathon Petroleum makes up about 1.4% of Aspetuck Financial Management LLC's portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of Marathon Petroleum by 78.1% during the fourth quarter. Wellington Management Group LLP now owns 9,961,503 shares of the oil and gas company's stock worth $1,389,630,000 after buying an additional 4,367,774 shares during the period. Demars Financial Group LLC boosted its position in Marathon Petroleum by 16,338.3% during the 4th quarter. Demars Financial Group LLC now owns 4,177,133 shares of the oil and gas company's stock worth $582,710,000 after acquiring an additional 4,151,722 shares during the last quarter. Norges Bank bought a new position in shares of Marathon Petroleum during the 4th quarter worth approximately $453,427,000. GAMMA Investing LLC raised its holdings in shares of Marathon Petroleum by 14,969.1% in the first quarter. GAMMA Investing LLC now owns 1,540,963 shares of the oil and gas company's stock valued at $224,503,000 after purchasing an additional 1,530,737 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Marathon Petroleum by 37.4% in the fourth quarter. Boston Partners now owns 3,436,704 shares of the oil and gas company's stock worth $480,501,000 after purchasing an additional 935,042 shares in the last quarter. 76.77% of the stock is owned by institutional investors and hedge funds.

Marathon Petroleum Stock Performance

MPC traded down $1.77 on Friday, reaching $165.76. The company had a trading volume of 615,746 shares, compared to its average volume of 2,684,269. The company's fifty day moving average is $155.11 and its 200 day moving average is $147.28. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.73 and a current ratio of 1.19. The stock has a market cap of $50.92 billion, a P/E ratio of 23.30, a P/E/G ratio of 3.27 and a beta of 0.89. Marathon Petroleum Corporation has a fifty-two week low of $115.10 and a fifty-two week high of $183.31.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.16. The company had revenue of $31.85 billion for the quarter, compared to analyst estimates of $28.91 billion. Marathon Petroleum had a return on equity of 8.89% and a net margin of 1.75%. The firm's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. As a group, analysts predict that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Wednesday, May 21st were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, May 21st. Marathon Petroleum's dividend payout ratio is currently 51.20%.

Analysts Set New Price Targets

MPC has been the subject of a number of analyst reports. Evercore ISI started coverage on shares of Marathon Petroleum in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $170.00 target price for the company. Barclays lifted their target price on Marathon Petroleum from $141.00 to $159.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Raymond James Financial reduced their price target on Marathon Petroleum from $193.00 to $183.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 9th. Mizuho boosted their price target on Marathon Petroleum from $168.00 to $184.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company upped their price objective on Marathon Petroleum from $180.00 to $182.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.80.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.